EURUSD. Weekly range. On a weekly interval, a major correction develops inside wave c in the form of a downward triple zigzag. By 2022 I expect completion of wave (A) of and upward correction in wave (B) of .
Ewaves
PinkCoin/BTC (PinkCoin) Pink’s Wedgies = Massive Upside Potent! PinkCoin/BTC Pink’s Massive Wedgies!
PinkCoin/Bitcoin 05/08/18, 9:20 p.m. EST, by Michael Mansfield
PinkCoin represents the color of compassion, ultimately seeking to be a universal donation token tied to a blockchain potentially to better follow the money.
Currently, PinkCoin has two significant wedges that could potentially propel it to 400-500% gains, or much more if both wedge/triangle resistance lines are broken to the upside.
CYCLES:
Medium-term and longer-term cycles are favorable. Although there is obviously not enough data or sample sizes to know how accurate these will be in the near-term future. And, there may be a much larger cycle that we cannot yet measure due to the lack of historical data. That said, a break to the upside soon is certainly within the realm of possibly.
VOLUME PROFILE:
This indicator suggests that some backing and filling can be done in the area of 0.00000525 to 0.00000800 without much problem should a break to the upside occur.
Current price is 0.00000295 so that is a lot of room the the upside.
UPPER TARGETS IF BOTH WEDGES ARE BROKEN TO UPSIDE:
Inner wedge measured move target is the 0.786 prcnt retracement level priced at 0.00001150 area!
Outer wedge target is 0.00001776 so figure 0.00001700 and call it a day.
ELLIOTT WAVES:
Looks loosely like a ABCDE triangle formation. If so, this would be the terminal wave up before an extended corrective bear market, if Elliott Wave rules pertain to such thinly traded markets.
ANDREWS/SCHIFF LINES:
The recent spike hit the standard Schiff 50% line, which was also where the inner wedge resistance line was. The next stop could be the 23.6% retracement level.
NEGATED:
The potential bullish breakout scenario would be negated if PinkCoin breaks below the trend-line support at 0.00000223
This is a very small cap token so only for smaller positions. Could be fun ride. Be cautious on this one…
DISCLOSURE:
This analysis is meant for educational purposes only. You trade at your own risk!
Michael Mansfield CIO
